ATM Cash Alert: Then there will be a big line in front of the ATM? Those days of demonetization are about to return! danger of cash shortage

ATM Cash Alert: Have you run out of cash and are you planning to withdraw money from ATM? If yes, then this news is very important for you. In the coming days, you may see long lines outside ATMs, and you may find a “No Cash” sign posted at an ATM near you. In fact, in some states, employees of companies that load cash in ATMs have started a strike with their demands. If this strike continues, people may have to face severe shortage of cash.

Why is this strike happening?

The main reason for this strike is the dispute over salary increase. The employees who load and manage cash in ATMs are demanding increase in salary. They will not return to work until their demands are met. If this strike does not end soon, new notes will not be dispensed from the ATM. This will have a direct impact on the general public, because as soon as the cash in the ATM runs out, the machines will become empty.

Which states are being affected the most?

Currently, the effect of this strike is visible in some selected states, which include Uttar Pradesh, Delhi and Haryana. It is a matter of relief that this strike is limited to some areas only, but if no solution is found soon through talks between banks and companies, then this crisis can spread to other states as well.

Government bank ATMs will be most affected.

The biggest impact of this strike will be on outsourced ATMs, i.e. those managed by cash management companies.

Government Bank: If the strike continues for a long time, then the biggest problem will be on the ATMs of government banks, because their network is large and a large number of people withdraw money every day.

Which companies are involved?

According to reports, employees of two big cash delivery companies of the country – Hitachi Payment Services and CMS Info Systems – have taken this step. These companies deliver cash to ATMs in a large part of the country.

What does the ATM Industry (CATMi) have to say? Confederation of ATM Industry (CATMi) has expressed concern over this matter. Last month, the organization had written a letter to the Indian Banks Association (IBA) informing them about the increasing pressure on the ATM network.

Increasing expenses spoiled the accounts

CATMi says that due to the new wage code rules and the continuously increasing prices of diesel and petrol, the cost of operating an ATM has increased by about 20 percent. Due to this, fights have started taking place between companies and employees regarding salaries.

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